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22 Storms Avenue

Chaim Schwartz Purchases Jersey City Multifamily From Heba Bullock For $725,000
SOLDMultiFamily

Chaim Schwartz Purchases Jersey City Multifamily From Heba Bullock For $725,000

22 Storms Avenue

$725,000

$362/SF

Building Size

2,000 SF

Asset Type

MultiFamily

Closing

Nov 14, 2024

AI

A 4-unit multifamily property located at 22 Storms Avenue in Jersey City was sold for $725,000. The property covers a total area of 2,000 square feet, providing a price per unit of $181,250 and a price per square foot of $362.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $725,000
  • Units: 4
  • Square Footage: 2,000
  • Price Per Unit: $181,250
  • Price Per Square Foot: $362
  • Buyer: Chaim Schwartz
  • Seller: Heba Bullock
  • Brokers: Yanni Marmarou & Griffin Westlin - Investment Property Realty Group (IPRG)

The deal involved an investor purchasing the vacant 4-unit property. For further details, reach out to [email protected].

Players

Yanni Marmarou

Investment Property Realty Group (IPRG)

Broker

$150.8M

vol

36 deals

Broker

Jersey City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

21.88%

Cash-on-Cash

-6.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93